DLJ Slashes Micron Rating - TheStreet

Micron Technology

(MU) - Get Report

was hit hard this morning by

Donaldson Lufkin & Jenrette

when it was downgraded to underperform from buy and its price target was slashed to $50 from $122,

CNBC

reported.

Yesterday, the stock was started at

SG Cowen

with a buy rating and a price target of $125 a share.

Micron was lower in preopen trade on Instinet, trading at $71.25, down from Tuesday's close at 78.50.